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Is this a good time to buy American dollars?
The exchange rate for the £ has gone from $1.77 down to $1.71 in the last seven days. Think the exchange rate will continue falling?
I'm going to NY early next year, maybe I should stock up my $'s now?
5 Answers
- Anonymous1 decade agoFavorite Answer
I bought mine for december about 3 weeks ago at 1.77. Remember, the rates you see advertised aren't tourist rates!
It's closer to 1.69 now!
- Anonymous1 decade ago
Yes, I think the dollar will continue to fall against the pound, so it would be wise to buy dollars now if you can.
Expect the UK economy to continue going into free fall.
- 1 decade ago
man, it really depends on who gets elected, if its obama, there might be a chance that the dollar will rebound eventually and you could make a profit, but if mccain wins and keeps printing money and keeps dumping way too much in military spending, i cant imagine that the dollar would ever recover, and with as unpredictable as the markets are, i would invest your money in something of actual value like gold or diamonds, not us currency
- Anonymous1 decade ago
there is no way to tell a couple of months ago it was $2.01, a couple of years ago it was $1.64 but this credit crunch is happening in the states too, i live six weeks in the U.K six weeks in the states alternatively and my computer tells me todays rate is $1.75
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- Anonymous1 decade ago
The £ is weak at present so I would wait a few more weeks.